Global markets plummet due to Trump's tariff wars, oil prices drop; tech and energy stocks hit hard.

From Nasdaq: 2025-04-07 09:15:00

Wall Street closed sharply lower on Friday as Trump’s tariff wars continued to weigh heavily on global markets. The Dow Jones fell 5.5%, Nasdaq lost 5.8%, and the S&P 500 plummeted 6%. The fear-gauge VIX increased 50.93%, and a record-breaking 26.79 billion shares were traded. Tech and energy stocks bore the brunt of the losses.

Oil prices plummeted over 7% on Friday to a three-year low as tensions between the U.S. and China escalated. Brent crude settled at $65.58/barrel, while WTI crude ended at $61.99. The weekly roundup saw the S&P 500 drop 9.1%, the Dow decline 7.9%, and the Nasdaq slump 10% due to Trump tariffs.

Economic data from the Bureau of Labor Statistics showed nonfarm payroll employment rose by 228,000 in March, with an unemployment rate of 4.2%. Average hourly earnings increased 0.3%, and the average workweek remained unchanged. Despite expectations of Fed intervention, the market continued to suffer from uncertainty surrounding tariffs.



Read more at Nasdaq: Stock Market News for Apr 7, 2025